As a follow up to my many GDX posts, it was rejected hard at the 2016 high around 32 and looks to be trading around the low 27's this morning. The selloff is similar to that of 2016 and there is plenty of room to drop into the next channel as GDX looks to find support and build a base. It's counterpart NUGT is around 27 as well with a similar chart having fallen from 43 just a few days ago. Selling seems exacerbated. Not sure what the next move is from here but sidelined myself earlier in the week and waiting for a good opportunity to re-enter. Own DUST until I can pick a spot to go long.
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